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Early Selling Pressure

RUSSIA

The rouble has sold-off in early trade with USDRUB last at 74.56, up from a low of 74.14. Equities have similarly started the week under some pressure. $RTS is 1.4% lower with the MICEX down 0.9%.

  • EU foreign ministers are due to meet in Brussels today to discuss the possibility of fresh sanctions against Russia after the high-profile dissident Alexei Navalny was handed a lengthy prison sentence.
  • Russia has now approved its third coronavirus vaccine, CoviVac, for domestic use.
  • It was reported yesterday that Russia has reported the first case of human infection from the H5N8 strain of bird flu. It is being repoted that there have been no signs of human-to-human transmission.
  • Looking ahead, weekly CPI data will be published on Wednesday.

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